OOC: Taking initiative here, so we can just get this out of the way. If there was anything I forgot or that someone doesn't like, just write it down with your signature and I'll amend. Outside of any radical changes or complete treaty changing proposals, there isn't much that would cause me to back out.
Treaty of Shanghai
I. Peace between the Korean Empire and the Republic of China
1. The Korean Empire will withdraw all support from the Empire of China and formally recognize The Republic of China as the sole and legitimate government of the Chinese nation.
2. All hostilities between the Republic of China and the Korean Empire will cease immediately.
3. All Korean forces within China will be withdrawn by the end of the year and the Korean Empire will abandon any territorial claims on the Chinese mainland save for the city of Beihei.
4. The Republic of China will lease the city of Beihei, in the Guanxi province, to the Korean Empire for use as a military base and special economic zone for a period of fifty years (until 1963). The Korean Empire will be responsible for the defense and well-being of the citizens of Beihei and if at any time within the period of the lease feels it cannot fulfill this obligation, it will return the city to the Republic of China.
5. Trade will recommence between the Republic of China and the Korean Empire unhindered.
II. Peace between the Korean Empire and the European Powers
1. All hostilities between the Republic of New England, the Swedish Empire, Kingdom of Portugal and the Korean Empire will cease immediately.
2. The island of Jeju will be leased to the Republic of New England as a military base and special economic zone for a period of time to be decided between the Korean Empire and Republic of New England.
3. The island of Kyushu will be leased to the Kingdom of Portugal as a military base and special economic zone for a period of time to be decided between the Korean Empire and Kingdom of Portugal.
4. The Korean Empire will compensate the amount of 2 EP to the Swedish Empire for trade lost due to Korea’s invasion of China.
5. The Korean Empire will limit its hull size to that of cruiser level for a period of six years.
6. Trade will recommence between the Republic of New England, the Swedish Empire, Kingdom of Portugal and the Korean Empire unhindered.
III. Future Relations Between the Republic of China and the European Powers.
1. The Republic of New England, the Swedish Empire and the Kingdom of Portugal will formally recognize the Republic of China as the sole and legitimate government of the Chinese nation if they have not already done so.
2. The Republic of New England, the Swedish Empire and the Kingdom of Portugal will make no attempt to expand their colonial holdings at the expense of the territory of the Republic of China.
3. The Republic of China will make no attempt to take control of the current Swedish or New English colonial holdings in China without their consent as long as these nations exist within their current form* for at least ninety-eight years (until 2002).
4. The Republic of China will lease the islands known as Macao, in the Guangxi province, to the Kingdom of Portugal for use as a military base and special economic zone for a period of fifty years (until 1963). The Kingdom of Portugal will be responsible for the defense and well-being of the citizens of Macao and if at any time within the period of the lease feels it cannot fulfill this obligation, it will return the islands to the Republic of China.
Signed Song Jiaoren, President of the Republic of China
*This is simply in case of the unlikely event that your nations have a radical change in government that threatens the security of the Republic of China such as turning into a bloodthirsty communist dictatorship.